You might take all the precautions in the world, yet you might be at the receiving end of scratches or dents on the car. The presence of several other motorists on the roads increases the chances of such unwanted incidents. This is one of the primary reasons you should renew your car insurance at the earliest.
Also, driving without valid insurance can land you in trouble with the traffic police department, since it is illegal to drive your car without insurance. However, the renewal of your car insurance policy also presents an opportunity to change a few things.
Here are the 5 things that you can change on your existing car insurance policy while renewing it.
- Change Riders:
Policy renewal is the best time to add or remove riders or add-ons for your car insurance policy. Insurance companies keep introducing new riders, thus renewal might be a good time to venture the riders. Also, if you have previously added a rider and feel it doesn’t add much value, renewal might be a good time to replace it with something better.
Some common riders include engine protection cover, roadside assistance, zero depreciation cover, etc. However, you must pay a small premium to get a rider for your policy.
- Change Plan:
If you are not happy with your current car insurance policy, renewal is your best shot to change the plan that you are currently on. You have three different options to choose from. You can opt for the barebones third-party liability policy, a comprehensive policy that offers maximum coverage or pay as you go policy, where you pay for the number of kilometres that you drive during a year.
- Change Primary Driver:
This is another change that you can do while renewing your car insurance policy. If you are getting old and want to name your son or daughter as the primary driver of the car, you can do so while renewing the policy.
- Change Car:
If you have purchased a new car, you can add the details of the car to your existing policy during its renewal. This will ensure that all your cars are covered as a part of a single policy. Thereby, making it easier to manage the policies. Similarly, if you have sold a car, you can remove the details of the old car from your policy during renewal. Though this can be done anytime during the year, it is good to review the details during renewal.
- Discounts:
Policy renewal is a good time to ask for discounts. If you are someone who does not claim their policy, you can benefit from a no claims bonus. The discount starts at 20% for the first year and goes up to 50% for the fifth consecutive year of no claims.
You can also ask for discounts on riders by reaching out to your insurance company if you have been a loyal customer.
Renewing your policy on time ensures that you have a hassle-free driving experience. And you can change any of the above during policy renewal.
